Global Copper Pipes and Tubes Market 2018-2022
About Copper Pipes and Tubes
Copper (a base metal like zinc, nickel, and aluminum) is characterized by extensive applications in multiple industries.
Technavio’s analysts forecast the global copper pipes and tubes market to grow at a CAGR of 3.8% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global copper pipes and tubes market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Copper Pipes and Tubes Market 2018-2022
Technavio recognizes the following companies as the key players in the global copper pipes and tubes market: FURUKAWA, KME Germany, KOBE STEEL, Luvata, MetTube, and Mueller Industries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for EVs and hybrid vehicles. The increasing sales of copper pipes and tubes are due to the growing sales of EVs. EVs and hybrid vehicles use more copper as compared with conventional vehicles. In the recent times, government initiatives and subsidies are leading to the growing sales of EVs.”
According to the report, one driver in the market is increasing demand for copper tubes and pipes in HVAC segment. The growth of the global HVAC systems market and the global copper pipes and tubes market is due to the extensive use of copper tubes and pipes in HVAC. The rise in the population levels, increase in new home sales, and increase in per capita income levels is influencing the growth of HVAC systems market.
Further, the report states that one challenge in the market is volatile costs of raw materials. Volatile costs of raw materials negatively impact the growth of the global copper pipes and tubes market. The conversion of copper cathode (raw material) to copper tubes is a resource-intensive process.